There's a problem with the serial number that makes me question if it's authentic. The style is a copy of a Soho Greenwich School Bag but all of the genuine creeds in my photo files with production codes from the "E" plant during any month in 1997 were made in Italy, not in the US.
We've usually considered any bag with an E plant code and a Made in the US creed to be questionable at least and probably fake. The examples in my files all have other problems besides just the serial number codes. I'd be curious to see large clear photos taken with the Macro camera setting of both surfaces of the magnetic snap.
The inside pocket on yours looks a bit narrower than the others I've been able to find that seem genuine:
http://www.ebay.com/itm/Vintage-Coa...144?pt=US_CSA_WH_Handbags&hash=item4ad61ae6c8
and
http://www.ebay.com/itm/Coach-Large...349?pt=US_CSA_WH_Handbags&hash=item20dcec93e5
The smooth leather panel at the inside bottom of the bag also seems different when compared to the two others. Yours is showing stitching on the inside base that follows or is part of the two lines of stitching on the outside of the base, the other two don't seem to have that stitching. The pocket zipper is pretty wavy compared to the other two examples too.